[January 08, 2025]

New York Life Enters 2025 with Industry-Leading Financial Strength Ratings Affirmed by All Major Ratings Agencies

New York Life, America's largest mutual life insurer,¹ enters 2025 with the highest possible financial strength ratings currently awarded to any life insurer operating in the United States by all four of the major rating agencies. During the most recent review cycle, Standard & Poor's, Fitch Ratings, A.M. Best, and Moody's Investors Service have all affirmed the company's industry-leading ratings.

Standard & Poor's affirmed New York Life's rating of AA+, the agency's highest rating for a U.S. life insurer, in June. In July and August, A.M. Best and Moody's affirmed New York Life's financial strength rating of A++ and Aaa, respectively - each firm's top possible rating. Fitch affirmed New York Life's financial strength of AAA, the agency's top rating, in October.

Highlights from these affirmations include:

Standard & Poor's - Rating of AA+ (Highest for a U.S. life insurer), affirmed June 3, 2024

• Excellent competitive position and financial risk profile
• Top market positions in the U.S. individual life insurance industry, propelled by a successful, controlled distribution model
• Consistent strategic focus on whole life policyholders
• Excellent capital and earnings

A.M. Best - Rating of A++ (Highest), affirmed July 3, 2024

• Very strong operating performance and very favorable business profile
• Strong risk-adjusted capital
• Very strong and established industry-leading managerial career agency distribution channel
• Strong brand recognition and leading market position in retail life and guaranteed income and fixed deferred annuities, with a continued top ranked position in overall U.S. individual annuity sales and lead position in U.S. retail life sales as of year-end 2023
• A well-diversified investment portfolio with a consistent approach towards credit risk and cash

Moody's Investors Service - Rating of Aaa (Highest), affirmed August 19, 2024

• Top-tier position in the domestic individual life insurance business
• Leading position i group life and disability insurance
• Large block of individual life insurance containing significant embedded profits
• Productive and well-established career agency distribution force
• Well-diversified investment portfolio, strong liquidity, and strong capitalization

• Leading market position in U.S. individual life insurance market
• Extremely strong capital
• Diversified liability profile and earnings mix
• Loyal and productive career agency distribution channel
• Leading producer of participating whole life insurance, guaranteed income annuities, group life and disability insurance market

The agencies' complete and current public commentaries on New York Life are available through the links below.

• Moody's Investors Service
• Standard & Poor's
• A.M. Best
• Fitch Ratings

ABOUT NEW YORK LIFE

New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest¹ mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life's family of companies offers life insurance, and other solutions. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies.²

¹Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 6/4/2024. For methodology, please see http://fortune.com/fortune500/.
²Individual independent rating agency commentary as of 10/04/2024: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard & Poor's (AA+).

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